Schwab's Intelligent Portfolios crosses $8B AUM mark

Charles Schwab's robo advice platforms announced their own assets under management milestone.

According to the company's latest SEC filing, Schwab Intelligent Portfolios, both retail and institutional, manages $8.2 billion, up $1.6 billion from the first quarter of the year.

“We are winning in the marketplace, steadily attracting clients and assets with a compelling combination of financial products, service and value," Schwab CEO Walt Bettinger said in an accompanying statement.

Launched over one year ago, Schwab’s platform for advisers, Institutional Intelligent Portfolios, currently has over 550 advisers on its platform.

“Advisers want to deliver the digital experience to their clients," Neesha Hathi, Schwab’s top digital executive said in her keynote address at the In|Vest digital conference.

At the annual SourceMedia In|Vest digital conference, Neesha Hathi, Schwab’s EVP for investor services platforms, strategy and client experience said that 60% of investors in the robo were previously self-directed.